tv Markets Now FOX Business August 26, 2013 11:00am-1:01pm EDT
how great would that be? the question today, though, is a money question. is that a money maker or money losing proposition if it snows in the new york-new jersey area? a $1 million disaster in several western states, the wildfires, tens of thousands out there battling the fires. they now have the full attention of the white house. much made of who will be replacing ben bernanke? what will ben bernanke do after he steps aside as fed share? we have at least one interesting suggestion for you. all that and more coming up on this hour of "markets now." ♪ good to have you with us here on monday. dagen is off on vacation this week, but we have a lot to talk about, brian westberry starting off on the economy. keep in mind, brian, he's been on a lot, and what he says, it's
a plow horse economy, that's cue to do whatever you want to do, but he uses that phrase. we'll see how long it takes to get into it. after closing down for three straight weeks, the dow kicking off the week here higher. let's look at the markets now. lauren is on the floor today at the new york stock exchange. good morning. >> good morning. just as we started speaking, the dow industrials hitting fresh highs for the day. we don't have a huge move, but nudges, the biggest seen so far today. three green arrows across the board. facebook, they are hitting almost 42 a share right now, and so we'll see if we can get to 45. there's a lot of folks who bought facebook last may at $45 a share. that's powering techs higher today, and if you look at the dow industrials, the biggest gainer is home depot. that's a nearly 3% gain there, but you have microsoft as the biggest loser on the dow industrials, down nearly 2%, obviously, giving back some of that 7-plus percent gain we saw
on friday. coming into work today, connell, i noticed there was absolutely no traffic. i flew down broadway. typically, that takes 45 minutes. today, about 25. the reason is there's no traffic this time of year because everybody's on vacation. with that, not a lot of people are here. volume's low. expect volatile pickup -- volatility. connell: we like that. they are in the hamptons. >> or drinking a margarita at the pool. connell: i hope they enjoy themselves while we work. talking about the economy, debt ceiling debate coming up in washington, focused on that heading into the fall, but economists are worrying more about future fiscal challenges. check out the numbers. 43% naming budget gaps in the 20 # 20s and the 2030s as the top issue now versus 37% naming budget issues over the next
decade. this is all according to a survey. we do have brian was very with us from illinois. one of our favorite guests. what do you make of this? it is always tough to focus. we are always so much in the moment. >> economists are not saying anything that people know. watch this stuff. they are not designed to last. politicians hope that they do. the bottom line is that they hope they will eventually go bankrupt on current trajectories. americans know this. by the way, this does tie back to the current debt ceiling
debate. there are a number of tea party members that are trying to say, hey, we have to fix this problem now. they only want to focus on today. connell: they would say over the next ten years is a bigger problem. what is your timetable? >> currently, and i do not want to paint it as some rosy picture, but it will be about 4% of gdp. these are lowered in the deficit numbers we have back in the 80s. that is not because we are managing our fiscal situation very well. we are coming down off of tarp.
there are a lot of things that are making our budget look better. i think 15 years from now is when we really pay the price for the runaway entitlement spending. then it will unfold over the next decade. connell: the economy, you think, it is doing pretty well. >> -- connell: i set you up for that. >> what it means is we are not a race horse. we will not win the kentucky derby. we are a plow horse. we are plowing the field. we have to pull through clay and stones and rocks.
all of these really cool things are changing our economy and building wealth. they are able to drag us forward even though we are making a bunch of mistakes. that is why i call it the plow horse. i guess the point is, it will not keel over and die, but it will not win any races either. connell: thanks a lot. we appreciate it. >> good to be with you, connell. connell: let's get to the latest developments in syria. a convoy was shot at by snipers today. let's bring in the former
senator, scott brown. this is, obviously, not a very good situation. what do you make of it all? >> they do not want that you and. they are afraid of what they will find. we are in a very difficult situation. i remember talking about this when we were just copying 10,000 people dead. now we are over 100,000 rising.
connell: in terms of today's shooting, the government is saying that it was the rubbles. you talked about the president having "missed the boat." if you are right about that, what do we do? >> trying to make surgical strikes on key military targets to send a very powerful message. senator cain has been on this since day one. to strike strategic military sites, to send a message we will not tolerate this anymore. that is important to get some world partners involved.
i cannot imagine that russia wants to see dead women and children. kind of a semi- redline, are we playing hopscotch over the line? when you make a threat to other world leaders, you have to follow through one way or another. we are losing credibility and not part of the world and throughout the world. connell: scott brown on a very tense situation in syria. as always, make you very much. >> thank you. connell: now topping 1 billion.
more the destruction from the fires out west. snow, snow is the concern for next february. you can pretty much bet on a snow bowl. enough about who is replacing bernanke. what will the fed chair to when he steps aside. first, we will talk about gas prices in a few minutes. here is the price of oil. $106.19. we will be right back. ♪ (announcer) at scottrade, our clients trade and invest
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all week long. my mission is to get people out there. start owning things. forget who is the president. forget about the fed for a moment. connell: we will learn a lot this week. charles: i do making money with charles every day. forget about it. what is the p/e ratio of zillow? who knows. what is the p/e ratio of tesla? who knows. how is a company doing domestically? guess what, it is still at
$16 trillion. last week even though american eagle fell, you know what, urban outfitters did pretty well. children's place did pretty well. we have no idea how the rest of the world is doing. we still kind of visualized airports where they still have their roads. connell: we do not know what is really happening. charles: last week, walmart said they were opening so many stores in africa. innovation and execution. those are things you need.
this is what we will focus on. speed. connell: quarterback running out of the end zone. [laughter] connell: charles, thank you very much. shares of facebook soaring while above their ipo price. fifty-two week high today. >> i liked the little google that you inserted in there. the attack higher of 2.5%. facebook is certainly a winner. it is holding that $40 level. the other stock is a big loser. it was a winner on friday. it is microsoft. down 1.4%. the ceo had announcement that he
was leaving the company and retiring. that was not smooth and planned as attended. back to you. connell: lauren, banks. cost of battling these wildfires out west is now above $1 billion. we have a live report coming up in just a moment. another ice bowl could be on tap, ms. february. we will have a look at all the markets around the world. ♪
gas prices dropping ahead of labor day. down $0.10 from a month ago. tom close the joins us to tell us why. oil is still up there pretty high. >> crude oil is supported by the geopolitical worries. that has probably added somewhere between ten and $20 to the price of crude. i think there is a sense that even though we have had a great driving season, the other side of that after labor day is that the demand will drop off. we have plenty of fuel, as we normally do at the end of the year.
connell: in syria, they are shooting out the weapon inspectors. there is a lot of tensions there. if things get worse rather than better in the middle east, is it still possible. >> it is possible. we are getting down to the sand and narrow here. in the spring, they were making 20, 30, $40 a barrel. i think if you get a lot of upward pressure, if you get any upward pressures, you could see prices go higher. that is probably less than a
probability. probably representing some of the bad scenarios reflect the price. connell: -- >> demand drops after labor day. it really drops into the dead of the winter. you will probably see lower prices than we did a year ago. when you factor in the fact that you do not have the payroll tax holiday anymore, you are saving a little bit of money on gasoline. i suspect that prices will continue to be slightly below last year. if you live on the west coast, we are talking about one dollar-
$1.40. connell: thank you. you made us laugh in one of your recent notes. we were watching the vma's last night. now you know why they hate us. >> that is right. i am looking forward to seeing people to -- twerk. connell: have a good one. we will talk coming up about the money side. bernanke could have a future in sports once he leaves the post as fed chair.
then, we will get to the markets on markets now. here are some of the winners that we are seeing today on the s&p 500. ♪ [ male announcer ] these days, a small business can save by sharing. like carpools... polly wants to know if we can pick her up. yeah, we can make room. yeah. [ male announcer ] ...office space. yes, we're loving this communal seating. it's great. [ male announcer ] the best thing to share? a data plan. at&t mobile share for business. o bucket of data for everyone on the plan, unlimited talk and text on smart phones. now, everyone's in the spirit of sharing. hey, can i borrow your boat this weekend? no. [ male announcer ] share more. save more.
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connell: enough people in this country do. thank you. for fox news live on the seed is dominick. >> yes. firefighters are seriously being tested by this fire. the fire is moving to the highly populated areas. the problem here is we have it coming in so fast from the east side of the town. the firefighters are rapidly being diploid. they have all created detainment
areas. the wind comes across of those trees. we were talking to one person who lives on the east side of town. he said the flames were just half a mile from his house. >> you can see huge plumes of smoke. even the aircraft -- it just gets away from you. who knows what will happen. >> it is also what is going on in yosemite national park. the fire has come within 2 miles of the dam that provides hydroelectricity.
yesterday, service members try to the problems caused by that. as the fire continues to get closer, the authorities are beginning to get worried. connell: very serious situation. thank you. it could be ice bowl two-point oh. you look at the farmer's almanac. super bowl 48 set to be held in our area. first outdoor championship. daniel kaplan joins us.
we will talk to cheryl in a minute. farmer's almanac. we get something like this. it does not necessarily mean that it will snow on super bowl sunday. >> the problem is, there could be a storm. the question is will we get it on february 2? the nfl is taking a calculated risk with having this game in the metlife stadium. that prize comes south and eastward. we have lots of warm water off of the east coast. that makes a natural pathway for storm systems. nor'easter's. they most commonly occur along the east coast.
the question is, will it happen on february 2. let's take a look at what normally happens. we are probably talking in the middle 30s or so. that will put real temperatures in the 20s. the weathering does not usually work normally. let's look at the last five years. you have seen temperatures in the 50s in 2009. we had snow last year. snow to rain in 2011. if you are going to get a snowstorm in east rutherford, you have a high probability it will be late january into february. connell: thank you for your perspective, bernie. let me take a few seconds talking to daniel. he says they are taking a calculated risk.
what do they think is the risk here? it is called, we get some snow. is it as big of a risk as some people are saying? >> it is clearly a calculated risk. this is not a surprise to the nfl. one of the greatest games in nfl history, they still talk about it. it was in the 1950s. cold is not a problem. i tweeted out my appearance here and i got a response back from the vice president of the nfl.
connell: it gives people like you and i a reason to sit here and chat about it. it does not seem like there would be otherwise they would not take this risk. >> he feels that if there is light snow or moderate snow the day of the event, that will lead to record high tv ratings. the nfl is embracing snow. a snowflake is part of a
committee will go. they are aware that there could be a weather catastrophe. their -- there are risks no matter where you go. these, you know, whether it is an issue almost anywhere. yes, it is maybe perhaps more announced. they are hoping for the best. they are also prepared for the worst. connell: 100 million people, whatever it is, the ones watching on tv do not care what it is. connell: thank you to both of you. appreciate it. tracking fear in the markets. we are seeing an uptick. do not worry about it. back to sports for a moment. bud seely, this is what bernanke
could have in common with baseball commissioner. what the popcorn has to do with today's durable goods report. nothing. jeff flock will draw the line. he is coming up in just a moment. double local ♪ make it happen with the all-new fidelity active trader pro. it's one more innovative reason serious investors are choosing fidelity. get 200 free trades when you start using active trader pro today. folks have suffered from frequent heartburn. but getting heartburn and then treating day after day is a thing of the past. block the acid with prilosec otc, and don't get heartburn in the first place. [ male announcer ] one pill each morning. 24 hours. zero heartburn.
security exchange operator is buying direct edge. financial firms were not disclosed. the second-largest operator by volume putting it behind the new york stock exchange, but behind the nasdaq. the first woman to become a member of the new york stock exchange has died. she died of complications of cancer. she was 80 years old. that is the latest from the fox business network. giving you the power to prosper. ♪ right now, 7 years of music is being streamed.
a quarter million tweeters are tweeting. d 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller. us 89% less energy. and costs 77% less. it's called hp moonshot. and it's giving the internet the room it needs to grow. this&is gonna be big. hp moonshot. it's time to build a better enterprise. together. connell: we have this durable goods report.
it was below expectations. forget about just the numbers for a second. jeff flock is with one company making plenty of profits. >> i am at a place where they invented the popcorn popping machine. the company is still going strong today. i have the fit generation president of the company. bad numbers. that is not what you are seeing. >> no. it has been going strong for the last two or three years. jeff: how much popcorn has popped out of that machine? >> 200 pounds of corn per hour. jeff: this is what crackerjack uses to make its popcorn.
capital goods that. how do you feel about this economy right now. >> it is obviously very challenging in a lot of sectors. the food market, people always have to eat. if they are looking to make their production, this can help with that. jeff: not only do they make popcorn popping machines, if you have been to a movie, you have probably had it. they say not so bad. we will see. >> yes, we will. the three jeff flock, thank you very much. back to the markets. the markets are treading on emotion. the reality is markets have not topped off with this much fear. always good to have you, my
friend. thanks for coming on. talk to us about this stage we are in. your view of the markets. there is a lot of debate. we have debate in our own industry group. they are fearful because the market has gone up. it is not only them, but the retail and the institutional investor. not only is the money withdrawals, last week was one of the highest levels since 2001. it has been accelerating. when people -- they are also pulling out of bond funds. the money is not coming from bonds to stocks as they thought. people are really be risking.
i surely think that they have it wrong for lots of reasons. pulling money out of the market would we have a move is not that type of action. i think that money is there to protect the downside of the market. could we pull back? sure, that is possible. people should be making a list of things they want to buy. manage a small regional and community banks fund. we have seen over 500 banks in the last few years. 200 some at their facility.
regional banks are a great place to be. that is the kind of name that i do not think will pull back a lot. connell: we are headed to the new york stock exchange. what is your view of where we are right now in the markets? >> 2007, that same number was 1.8 billn. theris a lot of money on the sidelines. even all of this turmoil, they are still up double digits. where will you get that. the market is only down in
august. people think that this is awful. it really has not been. that is with money coming out of the markets. connell: there you go. market watch had a story earlier. what will bernanke do in his second act after he steps aside as fed chair. possibilities from market watch. you look at the last possibility on the screen there. he will be the baseball commissioner. >> i think that the jets need a quarterback. [laughter] connell: as long as he does not step out of the back of the end zone, he may be just the guy. allen, joe, thanks. appreciate it.
get this, 6-foot ten. he just burst out of the scene. holds the record for the longest match ever played. he has big-name sponsors. i asked him, don, you make all of this money, what will you do with it? >> i try to put away as much money as possible. i think it is a good place to be in. i am a fairly conservative guy to begin with. i do not spend on stupid things or anything like that. i spend on things that will ultimately make me a better tennis player. me playing tennis is my main avenue. sandra: some of the biggest
names. coming up at noon eastern time, we are going to be talking to none other than andy murray. they call him the man that broke tradition heartbreak. he won wimbledon. he also has the gold medal. he also won the u.s. open last year. we will be talking to him about money, tennis and everything. we are live from the u.s. open. it is a nice day. a great interview. we will see you at the top of the hour. we have sandra smith in here next. sandra joins us from the pits at the cme. keep it here. ♪ weekdays are for rising to the challenge.
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connell: let's take a look at the price of oil. today it is starting to come back a little bit. sandra smith joins us now from the pits of the cme. sandra: a lot of folks are trying to make sense of where oil prices are going. oil prices are down today. gasoline prices are down today. durable goods are the big driver. durable goods, this is those big-ticket items.
nearly the biggest drop in a year for the durable goods order. this economy is not as strong. therefore, we are seeing a selloff in energy across the board. natural gas though only of arrows. while those durable goods indicate a weak economy, there is still that middle league sort of premium being priced into the energy market. connell: thank you very much. next up special trade on markets now. cheryl casone is at the u.s. open. andy murray. keep it here. markets now. ♪ [ male announcer ] how do you get your boce?
♪ >> 710 # ,000 fans expected to join all the of us, fox business, here at the opening day of the u.s. open, 2013, our third year, by the way, live on the grounds. we have a jam-packed hour talking to the major sponsors throughout the day joining us here on the grounds of the u.s. open. just to give you a little color here why it's important for fox business to be here at the u.s. open. the average attendee, average salary is $115,000. 115 grand, the average salary of someone coming to the u.s. open today, spending monny, and that's why all of the biggest corporations in the united states want to be here, here in new york city. also, i want to talk about the ticket prices. they really have gone up this year. so much for the recession.
talk about higher prices on the secondary market. tickets running $350, that's just to get to the grounds here for the day at live at the u.s. open. all right. a will the of big interviews are coming up here on fox business for the noon eastern time hour of "markets now," and we start with andy murray, of course, thee player everyone talks about this year. he is -- he won women -- wimbledon, and he also won the u.s. open last year, and he's a gold medalist, joining us at the top of the show, and ken sullivan, ceo of the ten thinks channel, talk about the win-win situation. tennis channel increasing viewers, and competing with a little name, you might know of, espn. gary tolman joining us with the brian brothers, the famous duo, talking about, oh, things that have been happening over the insurance in particular, issue
with the parent company, all state, talking about that as well, certainly the insurance market has been a little competitive. we'll just say. he's talking about e-insurance coming u.ment starting off with what we have, of course, andy murray who has become one of the most buzzed about players, very young, also, i have to tell you, a little bit shy when it comes to press and media. he was, of course, thee big winner of wimbledon, met the queen, spent time with david cameron, prime minister in the u.k., but when i asked what it was like after he won the u.s. open -- excuse me, after he won wimbledon and saw all the video foot taj and fans, crying people in the streets of london, how did he take it in? this is what he said. >> it was a strange few days after wimbledon because, you know, during the tournament, i don't really put the tv on much. i don't read the newspapers. i try to stay away from that
stuff, and after the tournament, you want things to go back to normal and, you know, every time i turn the tv on, you know, thralls something about me, people talking about me, so it was a weird few days, but, you know, after that, when it came down, it was nice, spent time with friends and family, and, you know, once it calmed down, it was, you know, just great to enjoy it with them, and then it went away on holiday to relax. cheryl: one of the things that happens as a successful tennis player, you were certainly a history making tennis player now, if you will, companies and sponsors call. have you got more attention from corporate america, global economy to drive their cars, wear the watch, are you finding that now? >> i don't take care of that stuff. i have a team that does those things and i concentrate on tennis, but, you know, most important thing for me is to make sure that, you know, the
business side issue, you work with companies that, you know, that understand the sport because, you know, we're extremely busy in the few days before grand slam, and there's a lot of time preparing for them, and you want to be with companies that understand that and have been involved in the sport and it's a lot of hard work, and you can't be dashing all over the city to do various events and appearances, so that's the most important thing for me. cheryl: andy, you went professional at such a young age as most do, but you got to have idols out there, not just those you look up to as far as how they play tennis, but how they manage their live, careers, invested their money. we're a business network, so i have to ask, do you think about that, the future for you after tennis? >> yeah, i think the older you get, you start to think about it more because, you know, it's a shorter career we have, you know, probably play tennis for five, six more years probably, maximum, so, yeah, you start to think about it a little bit, and you need to make sure you're
around the right people giving you good advice so you don't waste your money or make any mistakes. cheryl: before i let you go, it would be nice to see you wave to the fans out here, so excited to see you. i mean, -- cheryl: and the fans love him. i have to tell you, andy murray is the most buzzed about player of the year, only seeded three here at the u.s. open, novak djokovic ahead of him, a shy and sweet kid, but hum led by the fact he's really the pride of britain. he's a scott. i don't know if you could tell by the accent, but he's scottish. talking sponsorships at the u.s. open. millions, i mean, millions of dollars are spent by some of the biggest companies in the world at the u.s. open for the reasons i told you about at the top of the show. it's about getting the high net worth attendee, not only spend money at the u.s. open, but to embrace the brand that comes to
the u.s. open. nobody knows that better than somebody like american express. dow component, you know the stocks trading higher today, close to a 52-week high, but today, american express in the $73 range. $78 billion market cap, $80 billion market cap, excuse me, for american express, and nobody knows that better than the vice president of entertain markets and sponsorships joining me right here again for the second year in a row. hi, deb. >> hi. cheryl: good to have you back. >> a thrill to be here. cheryl: we talked about the fact, the attendees coming here, $115,000 average salary. for the country, that's astonishing. how do you get the name out? >> for the second year in a row, the american express fan experience, which is 20 ,000 square feet of footage that brings so much passion to the
game to life for our card members as well as fans on-site near the east gate. cheryl: you're doing again, if i'm not mistaken, the headphones to listen, and you have to be an american express card member to get the headphones. >> the live radio, american express radio, has been a huge fan favorite here. card members get access to that, but on september 2, it's american express day, giving them out to so many fans on-site,s a special treat for the open. cheryl: you also are, talk about the fan experience, i mean, you got one of the biggest competitors competing for attention this year, visa, when it comes to trying to compete with the visa customer, how do you differentiate american express when visa and mastercard are such well-known names? >> we focus on what to do better for our customer and learning more and more insights on what they love about the game and making it better. we bring new experiences, both here on-site as well as at home for the fans that are watching
and following at home. cheryl: we have to say, deb, you have several -- i mean, you run all the entertainment, marketing programs for american express. i mean, do you find the u.s. open is gaining in importance for you and your company, or do you find that other things are actually getting more international events that you do as well? >> u.s. open tennis has been important and continues to rise, and we have such demand from the card members it's a priority for us, but we prioritize what's important, and that cuts across all forms of entertainment. cheryl: do you have a way to figure out what the return is to the company based on sponsorship money? i mean, for every dollar that you spend on marketing, do you have a way to equate what that bbings back as far as revenues to american express? >> so much of what we look at is really the loyalty that it brings to our brand, and we know when the card members engage in all experience activities across sports and entertainment, we know that drives a much more loyal customer, and they just
have a thirst for more. >> you also partner with tennis players this year. i assume that's a paid relationship; correct? >> we have a relationship where we exchange value, and we are working, actually -- cheryl: going with money on that one, come on. >> we have a relationship this year with three emerging talents. we heard loud and clear there's an interest in the rising talent, and so we partnered with three talents who are just really thrill. cheryl: by the way, were supposed to be here, but is playing. how dare her play in the tun. , but, again, that's what happens; right? here on saturday, as well, the fans, everything, the players, themselves, for some reason this year more than other years, they seem incredibly, the time is under intense demand. do you find that difficult as a sponsor of a tennis player that it's more and more difficult to get them involved with the company when they have to focus on the game? >> i think getting them involved in the company is tapping into
things that are important to them and finding shared values. for sloan, for instance, it's connecting to the fans and community, and we really brought her in actively to community efforts that we work on with the usda called fresh course. cheryl: all right. >> really, when we do that, we get more engaugement. cheryl: american express is spending money to refurbish tennis courts in underserved communities in the country. great to see you again. >> thank you very much. cheryl: by the way, deb is sheer all day like the sponsors, of course, and, again, i'll tell you, the tick-toke of every fan that walks in the door, what do they buy and look at? we'll talk about that coming up later on in the show. also, coming up at the quick commercial break, yours truly, for the first time ever, actually going to play tennis on television. i needed a lot of help in my game. tim smith, one of the best and brightest tennis pros gave me a hand. it was rough. we'll be right back. ♪
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cheryl: all right, back live, markets now for fox business at the u.s. open. opening day at the u.s. open, of course, the billy g. king center, a new york legend, a tennis legend as well. anyway, the crowds are coming throw. i want to let you know, talk about a wonderful day to watch tennis. this is going to be for 15 days. tickets 350 or more, forget getting into the finals. it's a popular tournament. i've done this for three years; right? for the first time, i decided to get my game going when it came to tennis, but i brought in a professional, tim smith, the head coach at marris college,
coaching the women's team, ncaa tournaments left and right, nine competitions so far, and he decided to join me outside fox business headquarters to tell me about how to improve my game. let's just say i had a lot to learn. >> tell me what i'm doing wrong. >> okay. what i'd like you to do is think again about the follow through. you are stopping the stroke. it's a short court, tap it, follow through. cheryl: okay. ♪ >> oh, i didn't know you had a back hand. ♪ see if you can hit me some volleys. ♪ cheryl: i need help with the serve. >> we'll work on that. cheryl: let's do that. >> what it is, is back, bend, toss, hit. cheryl: back, bend, toss, hit. >> back, toss --
>> outstanding. ♪ very good. ♪ oh, cheryl, use the racket, not your hands! ♪ may be able to give up that news anchor job. cheryl: no. ♪ all right. thank you. high five. >> good job. cheryl: so, as you can see, it took me a little of time to kind of get the game going. i definitely need to work on my back hand. serve improved, i'll say that, but nothing equates to the players we have here at the u.s. open, the strength, the competition, the yelling you see on the court, especially when it comes to the finals. serena williams, anybody? we were here to talk to the players. we asked, you need to invest money, you make all the money, millions of dollars, so else --
so who else to ask other than nadal, the biggest sponsors in the world, ranked number two in the world, ranked number two for this year's tennis tournament, from spain, 50 career titles, nike, watches, we asked, frankly, how will you invest your money? here's what he said. >> sometimes, like, i have fun buying a few things, but i have the right people doing the right thing for me. i can have fun with small amounts, but for the rest, i have people who work with me. cheryl: yes, believe me, he's no dummy when it comes to how he invests money. smart guy. i let my father and other people handle my business affairs, but make no mistake, they make millions and millions of dollars and a lot of the companies here today put a lot of money into
the tennis players. speaking of money, when you come to the u.s. open, bring your wallet, multiple credit cards, you need it. especially this year. it's all about the food and the souvenirs. look at some the hot things that are selling this year. when we come back after a short break, we'll look at what it costs to spend a day at the u.s. open, and we're going to have a celebrity chef joining us to talk about the high end foods served this year, sushi, ribs, wine. we'll be right back. ♪ right now, 7 years of music is being streamed.
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kick off the entire tournament, talking to kids, trying to push the let's move campaign, wanting kids to exercise, move, things like that, but she was addressing the stadium full of children and takes the opportunity to tell the kids, basically, get a job. >> if you want to be good at anything, you have to work at it. i know your parents tell you that all the time, but i want to everyone sis that. if you want to be good at anything, put the work in. you have to show up every day. cheryl: all right. that was the first lady talking about the importance of hard work and dedication. nobody knows that better than the next guest, tony, one of the champions, and i don't even cook, so i'm excited to be next to this man, "top chef" masters, you're at the u.s. open this year, and i got to say, they are upgrading the food.
why get involved? >> well, that gives us a chance to do a wine bar, a real one. we wrote a cookbook calledded wine book food, and now it's wine bars, one on the south plaza right behind us and one in the club level. cheryl: you're a james beard winner, food we are talking about, and how did the u.s. open convince you to partner with them and do menu design? >> an opportunity to do something different. you get the same food in a lot of sporting venue, and we wanted to do something different, the wine bar the way we wanted, fresh ingredients made to order. it was appealing. cheryl: we have to show the food. amazing. every year i've come a to the u.s. open, it's better and better. what's over here? >> this is the toy may toe bred, rubbed with tomato, cheese, this is some -- chunk that off, put it on there, the shrimp, most popular item.
we have all of these wines by the glass. it's a real wine bar, like you're in the streets of rome and stumbled upon a wine bar. cheryl: where's your location on the grounds this year? >> behind the south plaza, in front of the stadium and club level. two wine bars. cheryl: a revenue driver for you and business or a labor of love? come on. >> you know, i think, i mean, with this many people and these many people who want to enjoy great food, i mean, you're going to tell things. it appeals to a lot of people. it is a labor of love, but it also -- cheryl: you'll bet advertising for the restaurants. >> you're height. cheryl: what's the latest right now? >> next year, we're celebrating thenniversary. in restaurant life, that goes on and on, and this fall, opening in miami called lorenzo in south beach. that's the newest place. there's a lot of stuff coming up. cheryl: oh, tony, looks amazing. i'll see you at 6 p.m.. looks amazing. >> perfect. we'll be ready for you.
cheryl: i want to show you, as promised, everyone, kind of the gear and some of the best selling things this year when it comes to the u.s. open. this is the most popular shirt. this is a $26t-shirt here at the u.s. open. this is thee most popular t-shirt they have. i want to show you the teddy bear, $30 for a teddy bear with the u.s. open swelter on. why not? the tennis balls, these, one of the highest priced items, as you can see, of course, bat this around with the kids, the dog, go ahead, trust me, and then, of course, you got different things, the sweatshirts, everything like this, and this runs, again, $30 for the sweatshirt. it is not cheap if you want to buy your souvenirs here at the u.s. open. it's going to cost you a pretty penny, but, again, all is for sale whether it's the food, whether it's the gear, whether it's the wine, the beer, all of it happening at the u.s. open, but, again, they know. they know they've got a very wealthy clientele coming out to the u.s. open every year, and believe me, u.s. companies and
broadcasters know how important a wealthy clientele can be. coming up, we're joined -- saw him last year, back this year -- ken sullivan, the ceo of the tennis channel. talk about an advertiser's dream. the tennis channel broadcasts the wealthiest tennis fans across the country, and believe it or not, nugget of information as we go to break, 60% of his viewers are women. tennis fans, like me, and maybe like you. we'll take a quick break. when we come back, more of "markets now," going to the floor. new york stock exchange to see the markets on this monday, monday, august 26th, 2013, opening day at the u.s. open. fox business will be right back. >> i try to put away as much money as possible, and i'm in a situation with absolutely no debt, own my house, car, everything as far as that goes. that's a good place to go. i'm a conservative guy to begin with, so i don't spend -- i
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>> hi, everybody. i am lauren simonetti on the new york stock exchange. you can see the stock is up 6%. this movement shows you that analyst upgrades often matter. jpmorgan upgrading. bank of america downgrading. tyson foods. that is expected to have chicken margins a little bit sooner rather than later. the move in tyson is affecting some other package companies. mcdonald's. here is a fun example for you. you can get mighty wings. finally, we are keeping an eye on facebook. that stock holding above $41.
cheryl, back to you at the u.s. open. cheryl: lauren, thank you very much. fox business here for the third year in a row. the big thing you have to talk about is television. all of the fans around the world will be tuning in to watch the semi finals and the finals. we have the ceo of the tennis channel. >> cheryl, great to see you. espn will be taking over. >> they have taken the network portion of the telecast. we have been partnered with espn
now in the grand slam presentation. we think it is wonderful. we will see how it all plays out. our hope is that we will bring more, but time will tell. cheryl: not only the u.s. open that you can cover, but the wimbledon, etc. >> our ad sales have been growing at about an average rate of $0.35 for a year. obviously, our distributions have grown. really, we are in a growth mode. most of the women do play. how do you tap into that?
>> we are more tilted towards women than other sports networks. men watch women players and women watchmen. it is a right even balance between the two. we are the number one in terms of income in all of television. cheryl: i have to ask you about the drama. that is cbs and time warner. that dispute is still continuing. they may not get the championship. are you hearing anything? >> they have not called me personally. i think that they will get it worked out. we hope that they get it worked out before the finals.
in the meantime, it is interesting timing. we think it is a great thing. we will be in about 60 million homes for our coverage. it is kind of an exciting thing that we will have that at the list. cheryl: this could be really good for the tennis channel. you have had your own issues with some of the distributors. is that relationship really as bad as it seems? this is a fight like we have never seen. >> we are seeing paradigm shifts in the business. everyone is making sure that they are in the best place. we continue to grow.
we have brought a lot more distribution. we launched today. we are doing that in conjunction with our cable partner. we played very well with them. cheryl: very good reporting. i will give away 5000 of these. you get the first. cheryl: thank you very much. they distribution for them this year. a lot of big stars will be on the tennis channel as well. coming up after a quick commercial break, we will be joined by the ceo of insurance. we will be talking about the real estate market. he will be bringing along the bryan brothers.
day. the first woman to become a member of the new york stock exchange has passed away. she bought a seat in 1967 after months of struggling with a male-dominated business world. she was 80 years old. that is the latest from the fog is this network. giving you the power to prosper. ♪ [ male announcer ] how do you get your boue? bounce is great because the freshness lasts for weeks in the drawer. why can't everything stay fresh that long? [ le announcer ] how do you get your bounce? [ man ] lasting freshness.
[ le announcer ] how do you get your bounce? (announcer) at scottrade, our cexactly how they want.t with scottrade's online banking, i get one view of my bank and brokerage accounts withne login... to easily move my money when i need to. plus, when i call my local scottrade office, i can talk to someone who knows how i trade. because i don't trade like everi'm with scottrade. me. (announcer) scottrade. awarded five-stars from smartmoney magazine. cheryl: we are back. it is opening day. the u.s. open. lots of players. lots of fans. say hello to the camera, everybody. they are here to see these two gentleman over here. when it comes to players, these
are two of the, literally, hottest players of tens. >> want to hear how great of an event this is? i am standing beside two fantastic plates that will go for the grand slam. cheryl: mike, talk to me about this year. you are going for a new record. you are arguably two of the most famous brothers. we have a chance to do something special. >> we will take it from there. cheryl: we will be watching. all of the fans, i know they are not here for you, but they may be buying insurance from you. things have been a little rough. how are things going now?
>> they are going great. growing nicely. i think very pleased with what we have accomplished so far. we are kind of changing our business model. we will start offering renters and homeowners. let's get back to tennis. you have done this so many years in a row now. i know that you love fans, but do you ever get tired of coming out every single year? >> definitely not. we have the most enthusiastic fans. we are just proud to be partnering up with ease insurance. we have a lot of reception from our fans and friends.
we have a commercial running this year which is pretty awesome. cheryl: a big facebook sweepstakes that is going on right now. >> yes. a $50,000 reward. >> the winners will sit with us and watch serena williams tonight. that will be a fun experience, hopefully. it has been a great thing for tennis. they are making us bigger. we are very happy. >> you do as a company spend millions. do you think it is paying off? >> absolutely. it is our target market.
>> real quick, bob. the next few years, do you think about investing? do you like the stock market? do you think about the next moment for you in life? >> we only have a few more years left. we are very conservative. we are in bonds which have not been that great this year. >> to be my hitting partner. cheryl: do you think about that? by parents handle it. my friend handle it. for both of you at this point, it is probably focusing on the longer-term. >> we only have a few more years left of earning potential.
then our money will probably dry up. we will have to have our portfolios move for us. fixed income is probably not the way to go right now. we are heavily diverse divide in that. we will switch over to equities and see how that goes. cheryl: that may be one of the best answers. i only confused you guys once. it is a little tough. anyway, it is great to see you. thank you very much. i just wanted to let you go, all the fans are freaking out. stay with fox business. coming up, we will be looking at the business of alcohol. there happens to be a lot of alcohol. not right now, but a lot of alcohol served at the u.s. open. we will be talking to grey goose. it has vodka in it, their
signature cocktail. we will talk about how much money they make from the u.s. open. fox business and markets live at the u.s. open. we will be right back. >> i have a great team of people around me who advised me and educate me. i feel like being a young woman in this field, you really need to educate your self and learn different things. ♪ right now, 7 years of music is being streamed.
a quarter million tweeters are tweeting. and 900 million dollars are changing hands online. that's why hp built a new kind of server. one that's 80% smaller. uses 89% less energy. ancosts 77% less. it's called hp moonshot. and it's giving the internet the room it needs to grow. this&is gonna be big. hp moonshot. it's time to build a better enterprise. together.
cheryl: we are back live at the u.s. open. it is a beautiful day. it is not raining. last year was a big issue. they are finally going to build a retractable roof. one bit rainy day and all you can do is basically go inside and drink. what company he really likes when that happens? that is grey goose.
every year there is a signature drink that grey goose debuts at the u.s. open. >> this year it is the grey goose honeydew. it is the same signature cocktail for the last few years. let's go through the recipe. it is a part and eight quarter of grey goose, have a part of raspberries will court, we use raspberry lemonade. cheryl: how many calories? >> i am not sure about that. lori: let's talk about business right now. you are out every year.
>> you get the cup with it. cheryl: let's talk about the business overall. this is the second largest distributor of alcohol. how is business going right now, globally? >> it is going well. it is international. people all over the world seem to like our product. cheryl: do you find that the tennis audience, let's call it the bang for your buck, you are spending money on this authorship and some of the revenue from the drink, not all of it. >> this is the perfect type of sponsorship. at the world, you see the natural liner. it allows us to sell our products. cheryl: this is the honeyed juice. we will not drink it because we do not do that on tv.
anyway, it was nice to see you again. here are your options, everybody. this is what you can potentially drink. coming up in the next hour, we will be talking a little more tennis, if you will. tracy austin. you know her very well. she, of course, when pro- 1978. former world number one. she won here at the u.s. open. she is in the tennis hall of fame. we love tracy. she will be joining me in the next hour of markets now. that is it for me here now. adam shapiro, we will bring adam shapiro back before the next
hour. adam: i know your producer is probably chowing down on cheese right now. thank you very much. defending airspace. we will hear from north carolina as a state teams up. why they want the government to stop its block of the u.s. air in american merger all in the name of jobs. a double whammy for the nasdaq. a competitor skips ahead to become the second-largest u.s. exchange. plus, the trouble in syria. and imminent strike as chemical weapons inspectors come under fire. ♪ [ male announcer ] these days, a small business can save by sharing.
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now, everyone's in the spirit of sharing. hey, can i borrow your boat this weekend? no. [ male announcer ] share more. save more. at&t mobile share for business. ♪ to fly home for the big family reunion. you must be garth's father? hello. mother. mother! traveling is easy with the venture card because you can fly any airline anytime. two words. double miles! this guy can act. wanna play dodge rock? oh, you guys! and with double miles you can actuay use, you never miss the fun. beard growing contest and go! ♪ win! what's in your wallet? ♪ adam: welcome back to "markets now." lori: will today's huge durable goods orders be enough to stir the fed? harming capital president on why
the bull market may be old and wringly, but it is still alive and well. he'll explain that opinion adam: a wing and a prayer. political and business leaders in north carolina, florida, and texas are maneuvering to stop the department of justice's blocked merger of american and u.s. air ways. ahead, north carolina chamber of commerce with why her state is putting up a fight. lori: donald trump a fraud, why he's sued, and what he calls taking advantage of student, and what legal council is telling fox business. we have more breaking news coming up. adam: expecting winter, cold, what did you think i was going to say? dire predictions, arctic blast expected to return with a vengeance. time for stocks, going to the floor every 15 minutes. lauren is